Research and Markets (http://www.researchandmarkets.com/research/6bfebe/estonia_pharmaceut) has announced the addition of the "Estonia Pharmaceuticals and Healthcare Report Q1 2010" report to their offering.
Business Monitor International's Estonia Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Estonia's pharmaceuticals and healthcare industry.
Major economic difficulties in Estonia are currently placing negative pressures on pharmaceutical expenditure, with the country slipping down one place in BMI's Business Environment Ratings matrix for Q110. Despite being above its two Baltic peers, Estonia is now ranked 14th out of the 20 key markets in the region. Therefore, it is most unlikely that Estonia's pharmaceutical market will be targeted by multinationals expanding into foreign markets, especially given the country's small population, which is one of the major constraints on the development of its pharmaceutical expenditure.
In fact, pharmaceutical sales contracted on an annual basis for the second consecutive quarter of 2009, while Baltics wholesaler Tamro reported in September that H109 sales at pharmacy purchase prices increased by just 0.3% year-on-year (y-o-y) at constant exchange rate. The publisher forecasts that for full-year 2009, Estonia's pharmaceutical market will record growth of 1.3% in local currency, to reach EEK3.52bn (US$315mn). Over the five-year forecast period (2009-2014), a compound annual growth rate (CAGR) of 5.59% is expected in local currency, although currency fluctuation forecasts mean that the market will witness a contraction in US dollar terms.